Interbrew Buys Part of China Brewer

Published 8:00 pm, Thursday, March 28, 2002

Interbrew NV, the world's second largest brewer, plans to buy a stake of up to 25 percent in China's Zhu Jiang Brewery.

Interbrew signed an agreement with Zhu Jiang, but said Friday that financial details are still being worked out. Interbrew said the companies would cooperate on Zhu Jiang's plans for an initial public offering in 2003.

Zhu Jiang is the last unlisted major Chinese brewer and the leading beer group in the country's Guangdong province. Interbrew has cooperated with Zhu Jiang since the 1980s, providing technical expertise and training to its Chinese staff.

Interbrew, which makes the Stella Artois brand, has transformed itself from a family-owned brewery limited to local markets to the second-largest beer company in the world in terms of volume, behind Anheuser-Busch Cos. of the United States. In the past five years, it has made over 30 acquisitions in more than a dozen countries and it has 180 beer brands worldwide.